hospitals

Backed by the Lippo Group, the company offers a unique opportunity to invest in Indonesian healthcare. But it is not cheap and the weakening rupiah remains a concern.

The price is fixed towards the low end at S$0.90 per share for an enhanced annualised yield of 8.95% for the current fiscal year.

A large parcel of shares is taken up by a strategic domestic investor, allowing the price to be fixed at a tight 4.6% discount.

The business trust is sponsored by Indian hospital operator Fortis Healthcare and promises a dividend yield of at least 6%. Meanwhile, electronics retailer Courts Asia starts bookbuilding for an IPO of around $100 million.

An institutional investor exits Thai hospital group Bangkok Dusit via a $135 million block trade, while CKI seeks to raise at least $298 million from a top-up placement.

The Malaysia-based hospital operator prices the deal near the top of the range, and the institutional tranche is more than 130 times covered.

Bumrungrad offloads its 25% stake in Bangkok Chain Hospital and Alliance Global Properties exits Mapletree Logistics Trust, raising a combined $248 million. And last night, Ayala Land was in the market with a $253 million top-up placement.

The Malaysia-based hospital operator has signed up 22 cornerstones and is on course to become the third-biggest IPO in the world so far this year.

Malaysia-based hospital operator IHH is looking to raise up to $2.2 billion but, excluding the cornerstones, only $280 million will be available for institutional investors.